Intel wants to take over the Israeli navigation start-up Moovit. The company is known for developing an AI-based public transport navigation application.
According to sources in the Israeli tech press and TechCrunch, the acquisition of Moovit is close to completion. The acquisition value is likely to be as high as 1 billion dollars (916 million euros). Moovit is a navigation application available in more than 100 countries. Intel is already a major investor in the start-up.
In concrete terms, the start-up will give Intel a popular navigation application with travel information for public transport. The application provides users the information required to use public transport intelligently. The application also shows routes that combine public transport and transport services such as Uber. Moovit uses AI and data analytics to monitor real-time traffic and other modes of transport.
Recently, the start-up developed an ’emergency relocation service’ that aids public transport companies in their quest to allow people to travel efficiently during the current corona pandemic. This service transforms all form of public transport vehicles into an ‘on-demand’ service that helps essential employees, such as nurses, to travel to work.
Intel’s integration of Moovit
According to Techcrunch, Intel wants to integrate Moovit’s technology into its own automotive platform Mobileye. With Mobileye, also a recent acquisition, the chip manufacturer delivers technology for ‘autonomous cars’. Moovit could add more possibilities to the platform in the field of real-time transport data and intelligent routing.
Another possibility mentioned is that Intel will use the technology to get better mobility information from its mobile chips. This type of technology is also referred to as ‘data-on-silicon’.